Economic Bakhtar News Agency is the official state news agency of the Afghan government, based in Kabul. The agency is a major source of news for all media in Afghanistan, gathering domestic and international news and providing information to outlets. http://www.bakhtarnews.com.af Thu, 23 Feb 2017 07:13:07 +0000 Joomla! 1.5 - Open Source Content Management en-gb The Exchange Rate of Afghan Currency Against Foreign Currencies http://www.bakhtarnews.com.af/eng/business/item/27623-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html http://www.bakhtarnews.com.af/eng/business/item/27623-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html The Exchange Rate of Afghan Currency Against Foreign Currencies

Wednesday February 22, 2017

Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                                                            Buying                                       
One Dollar                                                          67/40 afgs                                  
One Pound Sterling                                            83/95 afgs                              
One Euro                                                            71/10 afgs                                   
One Emirate’s Dirham                                       18/35 afgs                              
One Thousand Pakistani Rupees                          624 afgs       
One Thousand Indian Rupees                            1065 afgs               
One Thousand Iranian Rupees                          17/95 afgs      
 

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Economic Wed, 22 Feb 2017 11:51:24 +0000
Afghanistan, Italy Sign Grant Agreement Worth €4,000,000 http://www.bakhtarnews.com.af/eng/business/item/27618-afghanistan-italy-sign-grant-agreement-worth-€4000000.html http://www.bakhtarnews.com.af/eng/business/item/27618-afghanistan-italy-sign-grant-agreement-worth-€4000000.html

Wednesday February 22, 2017

Kabul (BNA) Eklil Hakimi, Minister of Finance and Roberto Canton, Ambassador of Italy signed a grant agreement of Euro €4,000,000 to reduce maternal and child mortality in the presence of Ferozuddin Feroz, Minister of Public Health here yesterday, a statement from Ministry of Finance said.
Minister of Finance reiterated the importance of this project and thanked the Italian government and its people for their continuous support for health, education, infrastructure and security, the statement added. “This grant would be used by Ministry of Public Health in Kabul and Herat provinces to strengthen health institutes, reconstruction of surgery ward of Indira Gandhi Children’s Hospital, establishing maternity wards in hospitals and providing health training programs abroad” said Ferozuddin Feroz, the Minister of Public Health. “Supporting health sector is the priority of Government of Italy and it has been years working in Kabul, Herat, Badghis provinces,’ Roberto Canton, Ambassador of Italy was quoted in the statement. He reassured of its continued assistance to Afghanistan. In addition, Government of Italy contributed in different areas for many years and is among long-term partner of Afghanistan, the statement concluded.
 

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Economic Wed, 22 Feb 2017 07:39:16 +0000
NPC Approves 4 Contracts Worth 270m Afs http://www.bakhtarnews.com.af/eng/business/item/27616-npc-approves-4-contracts-worth-270m-afs.html http://www.bakhtarnews.com.af/eng/business/item/27616-npc-approves-4-contracts-worth-270m-afs.html NPC Approves 4 Contracts Worth 270m Afs

Wednesday February 22, 2017

Kabul (BNA) The National Procurement Commission with President Mohammad Ashraf Ghani on the chair held session here the other day and approved four contracts worth 270 million Afghanis, a statement from presidential press office said.
According to the statement, the contracts involved asphalting 9.5 Km of Kabul-Gardiz to Zarkhon Shahr city of Logar’s Mohammad Agha district and other necessary livelihood for the administrative office of the president. The contracts of Ministry of Telecommunication and Information and Technology on connection of the country’s 16 universities to internet services and the amendments of the contracts for maintenance of the Ministry of Defense’s power plants and generators were rejected due to high rates as well as further study and exact calculation of the amounts, the statement added. The commission also rejected the proposed contract of the Ministry of Public Works on reconstruction of the second phase of Kama-Barkash Kot road of Nangarhar province, and the ministry was tasked to represent the proposal considering the restricted tendering procedures. The commission was attended by the Second Vice-President Mohammad Sarwar Danesh, Chief Executive Dr. Abdullah Abdullah, Ministers of Finance, Economy, Justice, senior advisor to president on infrastructures, officials of the national procurement authority, SIGAR observers, Mishrano Jirga’s commission of telecommunication and PACC representatives, the statement concluded.
 

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Economic Wed, 22 Feb 2017 07:37:05 +0000
MoPW Initiates Online System To Monitor Projects http://www.bakhtarnews.com.af/eng/business/item/27604-mopw-initiates-online-system-to-monitor-projects.html http://www.bakhtarnews.com.af/eng/business/item/27604-mopw-initiates-online-system-to-monitor-projects.html MoPW Initiates Online System To Monitor Projects

Tuesday February 21, 2017

Kabul (BNA) The ministry of public works has announced that it has activated an internet system to mobilize and monitor construction projects, amid growing complaints by the people about poorly built roads in the country’s capital.
Mahmoud Baligh, the minister of public works said that his ministry has launched the internet system to monitor the projects related to the ministry and help the people get access to information about the launched projects’ related problems, budget, procurements affairs, expenditures, contracts related biddings etc. He said the system would help work process be implemented successfully and added that the main aim of the ministry was to have precise information about the developments of the projects and the problems related to them each day. “Human sources and procurement systems would also be made online.” “The system had been activated within six months and right now, 1100 big and small projects are now covered by online system,” said the minister adding connecting districts with each other, through launching new road building projects, creation of railway and other transportation affairs are the responsibility of the ministry. The ministry of public works has earlier said it wanted to build hundreds of thousands of kilometers of roads all over the country, and that work on some of the has been started.
Meanwhile, Afghanistan Transparency Watch has blamed Afghanistan ministry of public works to fail to implement the projects well and transparently. Sayed Ikram Afzali head of the foundation praised the step taken by the government to create the online monitoring system to oversee the progress of the road buildings, but asked the government to appoint honest staffs to transparently monitor the projects.
He said the system would help transparency restored in the projects’ works process and corruption eliminated as well the culture of trusteeship institutionalized and those failing to implement their responsibility well, should be introduced to the government. Using low-quality substances in the road building projects, lack of transparency in the contracts, time consuming development projects have been among those problems, consecutively complained about. The foundation head, however sees in doubt if the system could completely prevent corruption, but said this could do something effective, rather to be deprived of. The ministry of public works said the system would also help trucks transportation to be controlled to highly prevent corruption. A university teacher, Ustad Massoud praised the move by the ministry said the system would help partially prevent corruption and restore transparency in the related affairs. But he asked the government to appoint honest individuals to fully carry out the process and the projects implemented well. “Since the last long, we see many of the uplift projects including road building launched out of quality, by some companies. They are not launching their quality works on the projects,” said Massoud who asked the government to sign contract with those honest companies, otherwise these companies would embezzle the funds and leave the projects semi-launched.
Ustad Sayhoon, an economic expert also said undoubtedly, the system could help monitor the projects well and corruption in the implementation process prevented, but the government should appoint eligible individuals in the process. The monitoring team should also do its best to monitor the projects comprehensively, as the people of Afghanistan want to see high quality built roads in the future. The goal could be secured through signing contracts with the strong construction companies which can provide high quality road building substances. Kabul citizens also complained about poorly built roads in the capital. Mohammad Nayem believed the work launched by some companies were out of quality, resulting in destruction of the roads in few days or months. Earlier the Kabul municipality has said it would sign contracts with valid and highly experienced construction companies.  The online system to monitor the projects is for the first time activated by the government in the country and hoped to the government to have successful in its goal.
Shukria Kohistani
 

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Economic Tue, 21 Feb 2017 10:57:13 +0000
The Exchange Rate of Afghan Currency Against Foreign Currencies http://www.bakhtarnews.com.af/eng/business/item/27595-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html http://www.bakhtarnews.com.af/eng/business/item/27595-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html The Exchange Rate of Afghan Currency Against Foreign Currencies

Tuesday, February 21, 2017
Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                            Buying                                       
One Dollar                           67/40afgs                                  
One Pound Sterling              83/80 afgs                              
One Euro                               71/40 afgs                                   
One Emirate’s Dirham          18/35 afgs                              
One Thousand Pakistani Rupees 623afgs       
One Thousand Indian Rupees     1025 afgs               
One Thousand Iranian Rupees   17/40 afgs                         

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Economic Tue, 21 Feb 2017 07:04:27 +0000
The Exchange Rate of Afghan Currency Against Foreign Currencies http://www.bakhtarnews.com.af/eng/business/item/27588-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html http://www.bakhtarnews.com.af/eng/business/item/27588-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html The Exchange Rate of Afghan Currency Against Foreign Currencies

Monday, February 20, 2017

Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                                    Buying                                       
One Dollar                                67/45 afgs                                  
One Pound Sterling                   83/30 afgs                              
One Euro                                   71/50 afgs                                   
One Emirate’s Dirham              18/35 afgs                              
One Thousand Pakistani Rupees  6205 afgs       
One Thousand Indian Rupees     105025 afgs               
One Thousand Iranian Rupees   17/85 afgs    
 

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Economic Mon, 20 Feb 2017 07:51:27 +0000
Afghanistan Among The World Repressed Economies http://www.bakhtarnews.com.af/eng/business/item/27581-afghanistan-among-the-world-repressed-economies.html http://www.bakhtarnews.com.af/eng/business/item/27581-afghanistan-among-the-world-repressed-economies.html Afghanistan Among The World Repressed Economies

Monday, February 20, 2017

Kabul (BNA) Afghanistan has been place among the repressed economies of the world, after becoming a member of the World Trade Organization (WTO) in 2016, according to the annual ranking launched by The Heritage Foundation.
Scoring 48. 9 points, Afghanistan has been ranked at the 163th place out of the world’s 180 countries and ranked among the repressed world economies, with its maiden entry into the annual index of Economic Freedom, said The Heritage Foundation. According to the ranking launched by the foundation, the list was topped by Hong Kong, Singapore and New Zealand. The United States ranked 17th while China has gained 111th spot. In South Asia, Afghanistan is at the bottom of the ranking, with the Maldives positioned at 157th spot. Ranking of other South Asian countries are Bangladesh 128, India 143, Pakistan 141, Nepal 125, Sri Lanka 112 and Bhutan 107.
Over the past decade, the country achieved rapid yet volatile economic growth, the Foundation said construction and agriculture have been the key contributors to economic expansion. Political uncertainty and security challenges remain formidable, it said. “The rule of law continues to be fragile and uneven across the country.” It added the inability to deliver even basic services reliably had eroded public confidence in the government; and systemic corruption had undermined the effectiveness of courts, the banking sector, and other parts of the economy. Corruption was endemic throughout society and demands for bribery at border crossings hampered development of a market economy, The Heritage Foundation alleged. The presence of a large informal economy continued to dampen development of a functioning labor market, the foundation pointed out. “Processes for establishing businesses and obtaining necessary licenses are relatively streamlined, but other structural barriers persist,” it said. Due to the severe underdevelopment of Afghanistan’s financial system, the government has very limited influence on monetary policy, it added.
According to the foundation, the judicial system operates haphazardly; in many places, justice is administered by inadequately trained judges according to a mixture of legal codes. Political and economic expert, Mohammad Haidar Hemmat said undoubtedly Afghanistan had an economy reliant to the foreign countries funds and asked the government for doing more in fighting corruption, monitoring the counter-corruption process and providing enough political support to the anticorruption institutions, if wants to gain good results from its efforts. He said the people wanted the government to opt strong will in its leadership to uproot corruption. Corruption, he said has caused many crisis including failure to practice law, capital flee, brain drain and distrust to halt foreign aids. Both the government and the people in cooperation with the corruption fighting entities, could overcome the problem jointly. Kabir Ranjbar, another analyst, confirmed the report and said Afghanistan needs to use the available opportunity to grow its economy, but insecurity is the biggest problem and caused the people of Afghanistan to lose all possibilities. He said fighting corruption was effective, when the culture of award and punishment was institutionalized and the law implemented on all including the powerful individuals as well as the role of the attorney general office, he believed was the key to seriously fight the phenomenon.
The entities within the government should also go ahead strongly in war on corruption and presence of the heinous phenomenon had caused all developments halted. This while, since the last 14 years, all anticorruption institutions struggled to fight corruption, but no one has still been introduced to the legal and judicial system, pushing Afghanistan to the world’s most corrupt nation, after N. Korea and Somalia.
Shukria Kohistani
 

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Economic Mon, 20 Feb 2017 07:02:34 +0000
The Exchange Rate of Afghan Currency Against Foreign Currencies http://www.bakhtarnews.com.af/eng/business/item/27571-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html http://www.bakhtarnews.com.af/eng/business/item/27571-the-exchange-rate-of-afghan-currency-against-foreign-currencies.html The Exchange Rate of Afghan Currency Against Foreign Currencies

Sunday, February 19, 2017
Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                                                               
One Dollar                           67/50afgs                                  
One Pound Sterling              83/50 afgs                              
One Euro                               71/50 afgs                                   
One Emirate’s Dirham          18/40 afgs                              
One Thousand Pakistani Rupees 625afgs       
One Thousand Indian Rupees     1025 afgs               
One Thousand Iranian Rupees   17/50 afgs                         

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Economic Sun, 19 Feb 2017 07:58:17 +0000
The Exchange Rate of Afghan Currency http://www.bakhtarnews.com.af/eng/business/item/27548-the-exchange-rate-of-afghan-currency.html http://www.bakhtarnews.com.af/eng/business/item/27548-the-exchange-rate-of-afghan-currency.html The Exchange Rate of Afghan Currency
Saturday, February 18, 2017 Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow: Buying One Dollar 67/35 afgs One Pound Sterling 83/50 afgs One Euro 71/30 afgs One Emirate’s Dirham 18/32 afgs One Thousand Pakistani Rupees 624 afgs One Thousand Indian Rupees 1055 afgs One Thousand Iranian Rupees 17/90 afgs
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Economic Sat, 18 Feb 2017 11:29:46 +0000
International Chamber of Commerce Office Inaugurates In Kabul http://www.bakhtarnews.com.af/eng/business/item/27544-international-chamber-of-commerce-office-inaugurates-in-kabul.html http://www.bakhtarnews.com.af/eng/business/item/27544-international-chamber-of-commerce-office-inaugurates-in-kabul.html International Chamber of Commerce Office Inaugurates In Kabul

Saturday, February 18, 2017

Kabul (BNA) A branch of the International Chamber of Commerce (ICC) officially opened in Kabul on Thursday, Bakther News Agency (BNA) reported.
According to the agency, attended by some government officials, representatives f relevant organizations, foreign countries’ ambassadors, international organizations’ representatives, industrialists’ unions and national traders, the opening ceremony was held at the foreign ministry. During the opening ceremony, ICC Chairman said the aim of inaugurating this office was to attract foreign investments and cohesion of the private sector, the agency added. “We want to provide fields for foreign investment with the cooperation of Afghan government and Afghanistan Chamber of Commerce and industrial associations,” said Mayel Aqa Khairkhah, chairman of ICC, BNA added.
Meanwhile, Chief Executive, Dr. Abdullah Abdullah called the beginning of the activities of the International Chamber of Commerce in Kabul vital, adding it will pave the way for drawing foreign investment in the country and will reinforces the ties between the private sectors of Afghanistan and the regional as well as international companies around the globe, the agency continued. In the meeting, the participants also spoke about paving the way for employment opportunities and offering good services for the Afghan people in different walks of life, the agency added. Furthermore, France ambassador to Kabul, ministers of economy, commerce and industries, political deputy of foreign affairs ministry and some other officials spoke in the meeting.
 

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Economic Sat, 18 Feb 2017 06:19:30 +0000